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Amazon keeps mum on bookstore speculation

1 year 3 months 2 weeks ago February 03, 2016 Feb 3, 2016 Wednesday, February 03 2016 February 03, 2016 10:43 AM in News
Source: Associated Press
By: APnewsNow

NEW YORK - Amazon is declining comment on reports it may be planning to open more bookstores.

In a call with analysts on Tuesday, Sandeep Mathrani, the CEO of mall operator General Growth Properties, said in an offhand comment related to a question about holiday traffic that Amazon had plans to open 300 or 400 bookstores.

A New York Times report, citing unnamed sources Wednesday, said Amazon could open more bookstores in the future but at a more modest pace.

Amazon said it does not comment on rumors or speculation. General Growth Properties did not respond to a request for comment.

Amazon operates one bookstore in Seattle and about five staffed pickup locations for textbooks at universities, with plans for two more in 2016.

Shares of Amazon.com Inc. dropped almost 4 percent in morning trading.

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